STOCKHOLM, Jan 24, 2017 /PRNewswire/ --
Nordic Waterproofing has acquired the majority of the shares in the Dutch company EPDM Systems B.V. The Dutch company will strengthen Nordic Waterproofing's presence in the Dutch markets for prefabrication and distribution of EPDM roofing materials.
EPDM Systems was established in 1997 and is today one of the leading EPDM supplier for building solutions. Customers consists primarily of contractors and building merchants. The company's operations are based in Lemelerveld, with 34 employees and it generates annual external sales of about SEK 80 million.
Nordic Waterproofing Holding A/S's subsidiary SealEco AB has acquired 67 percent of the shares in the Dutch company EPDM Systems B.V. for SEK 17 million on a cash and debt free basis.
"We know EPDM Systems well as the company has been one of our largest customers in the region and a SealEco authorized partner for more than 15 years for EPDM prefabricated roofing systems", commented Martin Ellis, CEO of Nordic Waterproofing. "EPDM Systems has a proven track record and we expect to increase our market penetration in this region based on their strong customer base."
Edwin van Dijk, Managing Director at EPDM Systems said: "I am looking forward to continue expanding Nordic Waterproofing's business in the Netherlands where the market is looking for high quality in material, prefabrication and installation capabilities. We will benefit from SealEco's knowhow and efficient logistical solutions."
The transaction will be financed by Nordic Waterproofing's available cash. EPDM Systems will be integrated in the SealEco business unit and be consolidated in the Nordic Waterproofing accounts as from 1 January 2017.
"As our strategy includes growing our EPDM platform by acquisitions in relevant European markets, we are pleased to welcome EPDM Systems to our Group. We very much look forward to working with our new colleagues in the future", said Martin Ellis.
This information is such that Nordic Waterproofing Holding A/S is obliged to make it public pursuant to the EU Market Abuse Regulation. The information submitted for publication, through the contact person set out below, on 24 January 2017, at 08.00 a.m. CET.
Nordic Waterproofing, in its current form, was established in 2011 by Axcel, by means of a merger of the Swedish and Danish waterproofing subsidiaries of Trelleborg AB's and Lemminkäinen Oy's roof installation businesses. Today, Nordic Waterproofing is one of the leading providers on the waterproofing market in northern Europe. The Group provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. In Finland and in Denmark, through part-owned franchise companies, the Group also provides installation services. The Company markets its products and solutions under nine brands, all with long heritage, most of which are among the most established and well-recognized brands in waterproofing in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Nortett and SealEco. Nordic Waterproofing is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.
For more information about Nordic Waterproofing, visit www.nordicwaterproofing.com
For further information, please contact:
Head of Corporate Communication & IR
Drottninggatan 11 SE-252 21 Helsingborg
Tel: +46 709 994 970
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SOURCE Nordic Waterproofing Holding A/S